What distinguishes the lapse of an offer from the rejection of an offer?
A) An option agreement cannot lapse,but it may be rejected.
B) Acceptance of an offer will be subject to rejection.
C) A lapse requires a communication of deliberate intent by the offeree.
D) Acceptance has not occurred when an offer lapses.

Question

Quizplus · Accepted Answer

A lapse of an offer occurs when the time period specified for acceptance has passed or, if no time is specified, after a reasonable time without acceptance. This does not require any communication from the offeree, distinguishing it from a rejection, which is an explicit communication from the offeree that they do not intend to accept the offer.

What Distinguishes the Lapse of an Offer from the Rejection